Interdependence With Other Key Business Functions
Finance plays a crucial role in funding extra resources.
Finance and operations
- Finance is required for inputs, machinery, land etc. to create value whilst receiving a return on investments.
- Operations manages stock and outsourcing whilst finance monitors the cost.
Finance and marketing
– Marketing is the way most businesses generate sales. Sales help with managing cash flow.
- Finance establishes budgets and forecasts marketing must follow.
Finance and human resources
- Finance provides funds for wages and HR strategies such as training and development.
Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.